State Bank Of India K N Palayam Branch Rep By Its Branch Manager vs M Poonkodi — 245/2024

Summary: The Subordinate Court of Sathyamangalam decreed the suit filed by State Bank of India against M. Poongodi for recovery of Rs. 1,57,458/- with interest. The court found that the defendant had obtained a cash credit loan of Rs. 1,00,000/- in 2019, executed loan documents including a hypothecation agreement, but failed to repay despite repeated requests. Since the defendant remained absent throughout proceedings and presented no defense, the court accepted the bank's uncontested evidence and awarded the decreed amount with 9% interest from suit date to decree date, and 6% thereafter until full realization. This case analysis is maintained by casestatus.in based on publicly available court records.